It’s very simple. All organised and well-managed businesses have a plan. In fact, they usually have more than one.
Typically, and at a minimum, businesses should have a business and management plan, a marketing plan and a financial plan to manage current and projected cashflow.
It can take time to develop these and good plans are ones that are robust, flexible and set the tone and direction for a business. A good plan with structure should also stand the test over time and guild business year on year.
Some will say – I don’t have time to do this? My response is simple. Make time. It will save you time. It will give you structure and clear objectives and direction. Focus on what you want to achieve and then maintain your focus. It allows you to reflect, refine and manage your business.
The growth of the business is the reason that planning is important.
Whenever you make a marketing plan, you know what you want to achieve in a given time frame. This is because planning helps you decide short term and long-term goals, it helps you make decisions faster. It saves you time.
Your ultimate goal is to improve your productivity. Whenever you plan, you plan to succeed. So, it is no surprise that planning will eventually lead you to have better success.
Medicine has not traditionally adopted such commercial strategies. The practice that does adopt such planning and organised methods will ultimately out-perform others.
Planning makes your decision making more efficient and precise. It will also ensure a decision is well thought out and informed. Thus, because planning helps you decide short term and long term goals, it helps you make decisions faster.
It goes without saying when businesses plan ahead, they have the flexibility to adjust the growth of the organization if any unseen events happen. They can also adapt to changing market forces. If you can react to your environment you can remain competitive.
Planning brings the business together. The plans must encompass all of the business and be holistic in its approach. Although you might make plans for different divisions or areas within the same business, the aim is to achieve a common objective. Unity will always lead to success and hence, the integrated approach which planning imparts to a business is ultimately very important.
The critical element of a plan is make sure you regularly review your plan. It is imperative to keep abreast on the planning process so that you can, at any time, refer to the plan and find out whether you are on track or not.
It’s simple – invest your time wisely and plan. It will help you work on your business and not just in it.